MOUNTAIN VIEW, Calif., Aug. 27 /PRNewswire-FirstCall/ -- Alexza
Pharmaceuticals, Inc. (Nasdaq: ALXA) announced today the company's
participation and that Thomas B. King, Alexza President and CEO, will
present at the following investor conferences in September.

Conference: NewsMakers in the Biotech Industry

Location: Millennium Broadway Hotel & Conference Center

145 West 44th Street, New York

Presentation Date: Thursday, September 4, 2008

Presentation Time: 10:30 a.m. ET

Conference: UBS Global Life Sciences Conference

Location: Grand Hyatt Hotel

109 East 42nd Street, New York

Presentation Date: Monday, September 22, 2008

Presentation Time: 4:00 p.m. ET

A live webcast of each presentation will be available, and can be
accessed via the Investor Relations section of the Alexza website, at
http://www.alexza.com. A replay of the webcast will be made available
approximately 24 hours after the live presentation and the replay will be
archived for 14 days.

About Alexza Pharmaceuticals

Alexza Pharmaceuticals is an emerging specialty pharmaceutical company
focused on the development and commercialization of novel, proprietary
products for the treatment of acute and intermittent conditions. The
Company's technology, the Staccato(R) system, vaporizes unformulated drug
to form a condensation aerosol that allows rapid systemic drug delivery
through deep lung inhalation. The drug is quickly absorbed through the
lungs into the bloodstream, providing speed of therapeutic onset that is
comparable to intravenous administration, but with greater ease, patient
comfort and convenience.

Alexza has five product candidates in active clinical development.
Alexza's lead program, AZ-004 (Staccato loxapine) for the treatment of
acute agitation in schizophrenic or bipolar disorder patients, is in Phase
3 testing and has completed enrollment of its first Phase 3 clinical trial.
A second Phase 3 clinical trial was initiated in July 2008. AZ-001
(Staccato prochlorperazine) for the acute treatment of migraine headaches
has completed Phase 2 testing and AZ-104 (Staccato loxapine) for the acute
treatment of migraine headaches is in Phase 2 testing. Product candidates
in Phase 1 testing are AZ-003 (Staccato fentanyl) for the treatment of
breakthrough pain, which is partnered with Endo Pharmaceuticals in North
America, and AZ-007 (Staccato zaleplon) for the treatment of insomnia. More
information, including this and past press releases from Alexza is
available online at http://www.alexza.com.

Safe Harbor Statement

The anticipated presentations will contain forward-looking statements
that involve significant risks and uncertainties. Any statement describing
the Company's expectations or beliefs is a forward-looking statement, as
defined in the Private Securities Litigation Reform Act of 1995, and should
be considered an at-risk statement. Such statements are subject to certain
risks and uncertainties, particularly those inherent in the process of
developing and commercializing drugs. The Company's forward-looking
statements also involve assumptions that, if they prove incorrect, would
cause its results to differ materially from those expressed or implied by
such forward-looking statements. These and other risks concerning Alexza's
business are described in additional detail in the Company's Annual Report
on Form 10-K for the year ended December 31, 2007, and the Company's other
Periodic and Current Reports filed with the Securities and Exchange
Commission. Forward-looking statements contained in this announcement are
made as of this date, and the Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events or otherwise.

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